Madras High CourtA/7070/2019closed

M/S.Tvs Credit Services Ltd v. Murugan Palanisamy And Another

2020-10-16Honourable Ms. Justice P.T. Asha3 pages

IN THE HIGH COURT OF JUDICATURE AT MADRAS

(ORDINARY ORIGINAL CIVIL JURISDICTION) FRIDAY, THE 16TH DAY OF OCTOBER 2020 THE HON'BLE MS.JUSTICE P.T.ASHA A.No.7070 of 2019 In the matter of Arbitration & Conciliation Act, 1996 and In the matter of Loan Cum Hypothecation Agreement and dispute between M/S.TVS CREDIT SERVICES LTD., and Mr. Murugan Palanisamy bearing Loan No.TN3004UV0000087 dated 30.09.2018.

M/S.TVS CREDIT SERVICES LTD NO.29, THIRD FLOOR, JAYALAKSHMI ESTATES, HADDOWS ROAD, NUNGAMBAKKAM, CHENNAI, TAMILNADU-600 006 REP.BY ITS SENIOR MANAGER LEGAL, MR.C.VENKATESH ..Applicant -Vs1. MURUGAN PALANISAMY S/O.PALANISAMY, 32B, MOTTUPPATTI KATTUVALAVU, AVANTPERUR MELMUGAM, SAVELLANAIYAKKANPALAYAM, LANDMARK, IYYANAR KOVIL, EDAPPADY, SALEM, NAMAKKAL-637 101.

2. PRAKASHDAS K S/O.KAILASHDAS, D.NO.4-10, AVARANGAMPALAYAM, MAVELIPALAYAM, SANKARI, SALEM, AKKAMMAPETTAI B.O., TIRUCHENGODE, LANDMARK:KOVIL, NAMAKKAL-637 301.

..RESPONDENTS Application praying that this Hon'ble Court be pleased to pass an order directing the Respondents to furnish security to the tune of Rs.12,31,619/- (Rupees Twelve Lakhs Thirty One Thousand Six Hundred and Nineteen Only) or such sum as this Hon'ble Court directs within such time that this Hon'ble Court may stipulate and in default of the respondent to do so to order attachment of the property morefully described in the schedule to the petition through the District Court, Salem till enforcement of the award.

This application coming on this day before this Court for hearing, the Court made the followings order:- From the records it is seen that the first respondent Mr.Murugan Palanisamy has been served with a notice on 03.10.2019. However, without bringing this to the notice of this Court, the counsel has taken out an application for substituted service for both the parties and the publication has also been effected. Therefore they are set ex-parte.

2. Since the Arbitration proceedings are midway, the applicant is directed to take appropriate application before the learned Arbitrator. The application is closed.

Sd/.P.T.A.J.

16.10.2020 //Certified to be a true copy// Dated this the th day of 2020. su.02.11.2020 COURT OFFICER(O.S.) From 25.09.2008 the Registry is issuing certified copies of the Order/Judgment Decree in this format.